Management is bound by NDA? How do you know this or is it just speculation? I hope you're right and it is an NDA because I'm finding it difficult to come up with a reasonable explanation for NTEK's apparent lack of communication and follow through with regard to many of the 'to do' items they listed in the SH.
Continued silence = continued drop in pps. Don't be surprised if we go sub .01 tomorrow or Friday. I'd really prefer not to lose another 50%, even if it is just on paper.
Get it together Mr. Riordan and honor your statements and commitments or shareholders will be calling for your head. I've included the SH so that shareholders can easily compare what was said with whats been done or hasn't been done.
Atlas1 reports, you decide.
NTEK...GET SUMMM!!!
FOR IMMEDIATE RELEASE
Investor Contact: Dan Wong
Phone: (858) 381-4677
Email: dwong@ntek.com
Letter to Shareholders from NanoTech CEO Peter Riordan
Recap of Quarterly Shareholder Call & Business Update
SAN JOSE, CA – March 12, 2015 –
NanoTech Entertainment
(OTCPINK: NTEK) (“NanoTech” or the “Company”) CEO Peter Riordan takes an opportunity to recap the Quarterly Shareholder call and provide shareholders
with an update on the business.
On Thursday March 12 at 2pm we conducted the first of our Quarterly
Shareholder calls. With over 200 people in attendance I am happy to provide a summary of the call and provide an update to on the business for those unable to join. As mentioned in the notice, we setup a special line for people to call in with their questions and every caller that reached out to us was given the opportunity to have their question answered on the call. We look forward to even greater participation this June at our annual shareholders meeting which will also be streamed to those that cannot participate on site.
It was my pleasure to speak about NanoTech Entertainment’s recent activities and prospects for success. NanoTech is an early stage public company. Our strengths are reflected in our highly capable product development teams which have produced amazing new technology, especially in the high growth 4K Ultra HD consumer television market. Through our content advisory board and skilled business development team we currently have hundreds of hours of 4K video available to our viewers and hundreds more being processed as we speak. We are the world leaders in delivering 4K Ultra HD content to television viewers. We have accomplished this and many other feats in a limited capital environment.
I have spent my first couple of months as CEO evaluating every aspect of our business and operations, looking at our historical performance, and devising
a plan that will carry us forward with the growth and returns that we all want to see expanding us to the next level.
New Overall Business Plan
Our first move to increase shareholder value was to reorganize the company so as to provide a clearer operating focus for everyone in the company.
I have drilled down to each division setting new policies and plans in place to increase communication both internally and externally. Moving forward each division will be structured such that it has its own management structure and operates with its own separate P&L focused on profitability within each group. Our teams now have clear strategies and projects plans which will help us operate more efficiently and effectively.
We have developed a new plan that calls for substantial increases in both revenues and profits for this year and beyond. By focusing on our core competencies, we have now have a plan in place to increase our gross profits by more than $8M in 2015.
We have also setup a new corporate governance board that will be focused on providing guidelines both internally as well as to our shareholders for how we drive the business moving forward. We will publish more information as it becomes available on our investors portal at ntek.com
Financial Issues
In my evaluation of the company, I have identified key areas that need improvement primarily in the financial department. We are actively seeking a new controller who will play a pivotal role in growing the company. We intend to have this role filled in the next month. We have also started interviewing possible candidates for the CFO position. We have engaged with a new Transfer Agent, Clear Trust, who had purchased our previous Transfer Agent, and they have been instructed to continue our policy of transparent reporting to our shareholders.
I am working closely with our executive staff, financial team to ensure that we can gather all of the necessary information from our previous CPA and Audit firms for our multiple companies and complete audits in a timely fashion. This is a priority for me and the company.
Buybacks & Dividends
The company has historically put an emphasis on sharing profits through dividends and increased value through share reduction. While both of these are very worthy goals they must be prioritized against a plan for increased growth and value. When it makes fiscal sense to execute either of these and there is not a more beneficial use of profits, we will once again visit both share buybacks and dividends.
Share Structure
This week we have increased our Authorized shares from 740MM to 990MM. 990MM was our previous authorized amount and is where we need to be in order to effectively operate our business plan. There are several factors that needed to be considered in making this decision including
• Ability to attract new Key employees and executives
• Continuing to meet obligations to the employee stock plan
• Continuing to meet contractual obligations
• Availability to Secure Future Funding
• Availability for New Technology, Product and Company acquisitions
Corporate Diversification
We have separated our Gaming Division to be led by my good friend Al Stone into a separate public company. NanoTech Gaming assets were sold to the new company in exchange for shares of the new company. As we have
previously announced, those shares will be distributed rateably to NanoTech shareholders. The exchange allowed us to completely recoup our investment in the Gaming Technology. This move was made as there was little overlap in resources.
Studio Operations
We have recently expanded our Studio operations with the addition of some world class talent in the film editing area. In addition, we have taken on a
significant investment in new technology allowing us to continue to stay on the cutting edge of 4K Ultra HD. With research firms now reporting that 50% of US homes are expected to have a 4K TV by2020 our investment in this space is continuing to be affirmed. We are working on developing several original content products in addition to expanding our current offerings including comedy specials and reality shows.
Media Hardware
Two years ago we pioneered the hardware space with the award winning NP-1 product. What was not anticipated was the speed at which the 4K Smart TVs would enter the market. Given that the primary goal of the NP-1 was to
capture viewers for our 4K service and we will be on 90% of the 4K Smart TVs by the end of Q2, our focus on the NP-1 has shifted from consumer to OEM
relationships. We will continue to service this space, but our focus will be on optimizing recurring revenues as opposed to one time sales.
UltraFlix
UltraFlix is our flagship product. We have been experience exponential growth with Thousands of new customers singing up in the past few days
We are continuing to innovate and expand the offerings on the UltraFlix network. We are partnering with multiple TV manufacturers to ensure that UltraFlix is available everywhere. We have had great success with Vizio and Samsung and are about to launch the product with Sony, Hi-Sense, LG, Sharp and Panasonic. We are also adding support for many new devices including an OSX version that will be availableon the new 5K iMAC at the end of this month, as well as iOS and Google TV devices.
I am pleased to announce that we have signed a deal with Armada
Music and will be offering a dedicated EDM music channel later this month, Armada TV.
Beginning in Q2 we will be launching Live 4K events including concerts, music festivals and sporting events. Along with our Live streaming events we will
be offering our “All Day 4K” channel featuring a 24 hour stream of 4K content.
We have recently singed new technical partnerships. I am happy to announce that as of this week we are an authorized partner with Dolby for both the Dolby Vision and Atmos products, and will soon be offering content featuring both of these technologies.
As the saying goes, content is king, and we have been making in
credible strides in our content offering. We will be adding titles from Millennium, IFC and Nu Image this month. We will be making content announcements from studios including Warner Brothers, Sony Pictures, Lionsgate and Miramax in the coming weeks as well.
What I’m most excited about is that today I can announce that we have entered into a contract with Paramount Pictures. Our first title from Paramount won an academy award last month. The 4K Digital adaption is currently under review by the films creator and director and once he has approved it we will be the exclusive provider for streaming this movie in 4K Ultra HD. Look for an announcement regarding this title in the coming days.
In Conclusion, We have had a very productive quarter and have a several major announcements that will be released to the public in the coming weeks. Please continue to provide our IR department with any questions you may have and we will be happy to continue to grow together.
Best Regards,
Peter Riordan
Chief Executive Officer
NanoTech Entertainment, Inc.
# # #
"Safe Harbor" Statement: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actualresults, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of
recent growth rates in of the company; the positioning of NanoTech Entertainment, Inc. in the market; ability to integrate both developed and acquired companies and technology; ability to retain key employees; ability to successfully market product offerings and customer acceptance of products; general market conditions, fluctuations in currency exchange rates, changes to systems and product strategy by vendors of systems; and whether NanoTech Entertainment, Inc. can successfully gain market share. Actual results may differ materially from those contained in the forward-looking statements in this press release. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
Continued silence = continued drop in pps. Don't be surprised if we go sub .01 tomorrow or Friday. I'd really prefer not to lose another 50%, even if it is just on paper.
Get it together Mr. Riordan and honor your statements and commitments or shareholders will be calling for your head. I've included the SH so that shareholders can easily compare what was said with whats been done or hasn't been done.
Atlas1 reports, you decide.
NTEK...GET SUMMM!!!
FOR IMMEDIATE RELEASE
Investor Contact: Dan Wong
Phone: (858) 381-4677
Email: dwong@ntek.com
Letter to Shareholders from NanoTech CEO Peter Riordan
Recap of Quarterly Shareholder Call & Business Update
SAN JOSE, CA – March 12, 2015 –
NanoTech Entertainment
(OTCPINK: NTEK) (“NanoTech” or the “Company”) CEO Peter Riordan takes an opportunity to recap the Quarterly Shareholder call and provide shareholders
with an update on the business.
On Thursday March 12 at 2pm we conducted the first of our Quarterly
Shareholder calls. With over 200 people in attendance I am happy to provide a summary of the call and provide an update to on the business for those unable to join. As mentioned in the notice, we setup a special line for people to call in with their questions and every caller that reached out to us was given the opportunity to have their question answered on the call. We look forward to even greater participation this June at our annual shareholders meeting which will also be streamed to those that cannot participate on site.
It was my pleasure to speak about NanoTech Entertainment’s recent activities and prospects for success. NanoTech is an early stage public company. Our strengths are reflected in our highly capable product development teams which have produced amazing new technology, especially in the high growth 4K Ultra HD consumer television market. Through our content advisory board and skilled business development team we currently have hundreds of hours of 4K video available to our viewers and hundreds more being processed as we speak. We are the world leaders in delivering 4K Ultra HD content to television viewers. We have accomplished this and many other feats in a limited capital environment.
I have spent my first couple of months as CEO evaluating every aspect of our business and operations, looking at our historical performance, and devising
a plan that will carry us forward with the growth and returns that we all want to see expanding us to the next level.
New Overall Business Plan
Our first move to increase shareholder value was to reorganize the company so as to provide a clearer operating focus for everyone in the company.
I have drilled down to each division setting new policies and plans in place to increase communication both internally and externally. Moving forward each division will be structured such that it has its own management structure and operates with its own separate P&L focused on profitability within each group. Our teams now have clear strategies and projects plans which will help us operate more efficiently and effectively.
We have developed a new plan that calls for substantial increases in both revenues and profits for this year and beyond. By focusing on our core competencies, we have now have a plan in place to increase our gross profits by more than $8M in 2015.
We have also setup a new corporate governance board that will be focused on providing guidelines both internally as well as to our shareholders for how we drive the business moving forward. We will publish more information as it becomes available on our investors portal at ntek.com
Financial Issues
In my evaluation of the company, I have identified key areas that need improvement primarily in the financial department. We are actively seeking a new controller who will play a pivotal role in growing the company. We intend to have this role filled in the next month. We have also started interviewing possible candidates for the CFO position. We have engaged with a new Transfer Agent, Clear Trust, who had purchased our previous Transfer Agent, and they have been instructed to continue our policy of transparent reporting to our shareholders.
I am working closely with our executive staff, financial team to ensure that we can gather all of the necessary information from our previous CPA and Audit firms for our multiple companies and complete audits in a timely fashion. This is a priority for me and the company.
Buybacks & Dividends
The company has historically put an emphasis on sharing profits through dividends and increased value through share reduction. While both of these are very worthy goals they must be prioritized against a plan for increased growth and value. When it makes fiscal sense to execute either of these and there is not a more beneficial use of profits, we will once again visit both share buybacks and dividends.
Share Structure
This week we have increased our Authorized shares from 740MM to 990MM. 990MM was our previous authorized amount and is where we need to be in order to effectively operate our business plan. There are several factors that needed to be considered in making this decision including
• Ability to attract new Key employees and executives
• Continuing to meet obligations to the employee stock plan
• Continuing to meet contractual obligations
• Availability to Secure Future Funding
• Availability for New Technology, Product and Company acquisitions
Corporate Diversification
We have separated our Gaming Division to be led by my good friend Al Stone into a separate public company. NanoTech Gaming assets were sold to the new company in exchange for shares of the new company. As we have
previously announced, those shares will be distributed rateably to NanoTech shareholders. The exchange allowed us to completely recoup our investment in the Gaming Technology. This move was made as there was little overlap in resources.
Studio Operations
We have recently expanded our Studio operations with the addition of some world class talent in the film editing area. In addition, we have taken on a
significant investment in new technology allowing us to continue to stay on the cutting edge of 4K Ultra HD. With research firms now reporting that 50% of US homes are expected to have a 4K TV by2020 our investment in this space is continuing to be affirmed. We are working on developing several original content products in addition to expanding our current offerings including comedy specials and reality shows.
Media Hardware
Two years ago we pioneered the hardware space with the award winning NP-1 product. What was not anticipated was the speed at which the 4K Smart TVs would enter the market. Given that the primary goal of the NP-1 was to
capture viewers for our 4K service and we will be on 90% of the 4K Smart TVs by the end of Q2, our focus on the NP-1 has shifted from consumer to OEM
relationships. We will continue to service this space, but our focus will be on optimizing recurring revenues as opposed to one time sales.
UltraFlix
UltraFlix is our flagship product. We have been experience exponential growth with Thousands of new customers singing up in the past few days
We are continuing to innovate and expand the offerings on the UltraFlix network. We are partnering with multiple TV manufacturers to ensure that UltraFlix is available everywhere. We have had great success with Vizio and Samsung and are about to launch the product with Sony, Hi-Sense, LG, Sharp and Panasonic. We are also adding support for many new devices including an OSX version that will be availableon the new 5K iMAC at the end of this month, as well as iOS and Google TV devices.
I am pleased to announce that we have signed a deal with Armada
Music and will be offering a dedicated EDM music channel later this month, Armada TV.
Beginning in Q2 we will be launching Live 4K events including concerts, music festivals and sporting events. Along with our Live streaming events we will
be offering our “All Day 4K” channel featuring a 24 hour stream of 4K content.
We have recently singed new technical partnerships. I am happy to announce that as of this week we are an authorized partner with Dolby for both the Dolby Vision and Atmos products, and will soon be offering content featuring both of these technologies.
As the saying goes, content is king, and we have been making in
credible strides in our content offering. We will be adding titles from Millennium, IFC and Nu Image this month. We will be making content announcements from studios including Warner Brothers, Sony Pictures, Lionsgate and Miramax in the coming weeks as well.
What I’m most excited about is that today I can announce that we have entered into a contract with Paramount Pictures. Our first title from Paramount won an academy award last month. The 4K Digital adaption is currently under review by the films creator and director and once he has approved it we will be the exclusive provider for streaming this movie in 4K Ultra HD. Look for an announcement regarding this title in the coming days.
In Conclusion, We have had a very productive quarter and have a several major announcements that will be released to the public in the coming weeks. Please continue to provide our IR department with any questions you may have and we will be happy to continue to grow together.
Best Regards,
Peter Riordan
Chief Executive Officer
NanoTech Entertainment, Inc.
# # #
"Safe Harbor" Statement: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actualresults, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of
recent growth rates in of the company; the positioning of NanoTech Entertainment, Inc. in the market; ability to integrate both developed and acquired companies and technology; ability to retain key employees; ability to successfully market product offerings and customer acceptance of products; general market conditions, fluctuations in currency exchange rates, changes to systems and product strategy by vendors of systems; and whether NanoTech Entertainment, Inc. can successfully gain market share. Actual results may differ materially from those contained in the forward-looking statements in this press release. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
